Updates

Erinaceous - Shares move to new high

December 2004

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Interim results this month are of academic importance only as Erinaceous has since completed the acquisition of Hercules Property, whilst these results also included a maiden contribution from the Occupancy business (a supplier of blue collar FM services such as reception staff, security, catering, etc). As it was, sales grew 93% to £38.0m (organic 28%) split between three property businesses; residential services (Haywoods which includes the tenant referencing business) is 26% of sales; commercial services (Occupancy) 68%; and insurance 5%. Pretax profit grew by 33% to £1.6m and eps by 17% to 4.9p. Clearly, Occupancy has had a big impact in these results. The business was barely profitable as part of build ...

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ICM Power - Just three centres to complete network

Radstone - Forecasts for year maintained despite weak first half

Erinaceous (April 2006)

Erinaceous (December 2005)

Erinaceous (November 2005)

Erinaceous - Enjoys good trading (April 2005)

Erinaceous (January 2005)

Erinaceous - Scope for large upgrades (October 2004)

Erinaceous - Scope for margin improvement (August 2004)

Erinaceous Beats forecasts (July 2004)

Erinaceous - First acquisition since AIM debut (June 2004)

Erinaceous - AIM debut with little fanfare (March 2004)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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